Berkadia Facilitates Sale Of 11-Unit Multifamily Building In Elizabeth New Jersey For $1.41M

The property involved in this transaction is an 11-unit multifamily building located at 313-315 E Jersey St in Elizabeth, NJ. The sale price was $1,410,000, the total square footage is 12,000, and it was sold at a price per square foot of $117. The property yields a cap rate of 4.7% and presents a value-add opportunity for potential investment.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,410,000
• Units: 11
• Price Per Unit: $128,181
• Square Footage: 12,000
• Price Per Square Foot: $117
• Cap Rate: 4.7%
• Address: 313-315 E Jersey St
• Market: Elizabeth, NJ

Nat Gambuzza, Tim Blashford, and Nick Balancia from Berkadia represented the seller and procured the buyer in this transaction. The brokers conducted a focused marketing process aligned with the sellers’ objectives, ultimately attracting an aggressive buyer who purchased the property “as-is” without requiring city or state inspections.